There is an inverse head and shoulders setup for the 4h chart on the USDJPY. This setup follows a 5 wave move to the downside, with divergence on the AO between wave 3 and wave 5. This is backed up by support off the 106 level last week and the stochastic (21,7,7) indicating momentum has started to turn to the upside. Enter on the break of the neckline (close above 200EMA on 4h), with Stop Loss below right shoulder. Profit target is distance from neckline to top of head, in this case around 108.88. Risk/Reward 1.99